Skopje, 24 October 2023 (MIA) – The French Development Agency (AFD) is providing €50 million intended for green and social investments that will be made available through the Development Bank of North Macedonia. This was confirmed at Tuesday’s meeting between Finance Minister Fatmir Besimi, Arnaud Dauphin, Director of AFD's Western Balkans office and Lebovics Maxime, Deputy Director of AFD’s Western Balkans office.

This represents the start of the AFD’s work in the country, which will contribute to the improvement of relations between North Macedonia and France, as well as an additional impetus in achieving European standards.

During the talks, Finance Minister Besimi thanked AFD for its dedication and hard work in creating this first program and expected the procedure for securing these funds to be completed at the beginning of next year and the funds to become available for use through the Development Bank.

“This is the first activity of the AFD in the country after its establishment, and its action will contribute to encouraging the cooperation between the business communities of the two countries, strengthening the support for the economic and social development of the country. The funds will be intended for the realization of investments in projects for environmental protection and reduction of the negative effects of climate change, support for female entrepreneurship, as well as financing digitalization processes,” Besimi said.

Considering its European agenda, the Ministry of Finance said that AFD particularly contribute to the implementation of regional integration, the agenda for connection, economic development and social cohesion, ecological and energy transition, as well as innovation and digital economy. There are opportunities for cooperation in many areas, such as the energy sector, health, education, agriculture, water, transport, urban development, etc.

According to the Ministry of Finance, the French Development Agency, the world’s oldest development agency, provides enormous opportunities to support the development of the country, both democratic and economic development, in the direction of faster and easier achieving the EU membership criteria.

“Establishing the AFD’s operations in the country means supporting a long-term plan for achieving economic and social progress that will ultimately lead us to European integration, but also to regional integration. It supports projects in the countries of the region and in more than 110 countries in the world, with €14 billion and around €300 million were committed by AFD in different Western Balkan countries,” Finance Ministry said in a press release.

Photo: Ministry of Finance